Americans Believe They Are Overpaying on Their Household Bills According to New Consumer Survey from Squeeze
As inflation rates soar and consumers look for ways to save money on their everyday bills, Squeeze, a billtech company that helps consumers save money on household expenses, has announced the results of a new consumer savings survey. The online survey of 2,000 U.S. adults, conducted in September 2021, identified key pain points of those managing their bills related to auto insurance, home insurance, internet insurance and cell phone plans.
Results show that consumers believe they are overpaying for a majority of their bills including student loans (47%), internet service (46%), gas (39%), cell phone plans (36%), groceries (35%) and home insurance (26%).
Thirty-five percent of consumers also think they are paying too much for their auto insurance.
When it comes to auto insurance expenses and shopping for new providers, consumers are primarily concerned with the amount of money they can potentially save (70%) and finding the same or better coverage (64%).
“The average U.S. household spends over one-third of their annual income on recurring household bills, which tend to increase over time, and unfortunately trying to reduce these expenses is very time consuming,” said Elias Janetis, Founder of Squeeze. “We built Squeeze to help consumers save money by organizing their insurance, mortgage, cell phone plan and internet bills, while helping them find the lowest rates. We do this without selling consumer data to any third parties meaning consumers never get bombarded with spam and unwanted messages.”
Squeeze’s survey also found that half of consumers are not aware that insurance providers will reimburse the remainder of a paid policy if they switch in the middle of a term. Among those not aware of insurers’ reimbursement policies when switching, 56% indicated this would make them more willing to consider immediately switching insurance carriers to find savings.
Additional findings include:
77% of consumers are open to switching their cell phone plan to a non-major carrier.
Cost and coverage/service are the primary drivers in the selection of a cell phone plan.
Both new home purchasers and refinancers are primarily driven by rates (58%) and low payments (55%).
For more detail and to start saving on monthly household bills, visit www.squeeze.com.
Squeeze is changing the way consumers save money on their household bills. Founded in 2016 and headquartered in Boca Raton, Florida, Squeeze takes users’ recurring expenses, shops for accurate comparable quotes and lets them pay the best rates on one convenient, easy-to-use platform. Using a compare-save-repeat mentality, automation, AI and serious expertise — Squeeze consolidates diversified bills like insurance, mortgages, cell phone plans, internet and more, all while staying on the lookout for super low rates. Squeeze is empowering customers to make better buying decisions, take control of their financial futures and focus on the things that matter most to them. Consumer’s personal information is protected using the same industry-leading technology that is used by banks. Squeeze does not sell consumer data to any third parties - meaning consumers never get bombarded with spam. For more detail and to start saving on monthly household bills, visit www.squeeze.com.
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